Jam I agree.
The price definately has to be right for me to be happy to let Gloucester go. It could be the cash cow needed to provide funds for other projects.
That said not being operator is unfortunate.
If they could get $300m in part of a deal for QGC to take over Lucas Energy then I would be happy with that.
QGC wants to build a power station near Newcastle remember.
AJL is reviewing their QLD tenement ownership with QGC, and want to spin out Lucas Energy.
I think it is likely that QGC will takeover Lucas Energy and buy out the 30% stake that MPO holds.
Other prospective buyer would be AGK. They are said to have been the ones who offered $400m for the entire field back before there were any reserves.
Time will tell. I bought more on this earlier.
the numbers, page-11
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